WASHINGTON, Aug 25 (AFP) - A former top Enron official responsible for investor relations pleaded guilty Wednesday to securities fraud as part of a plea agreement, under which he has agreed to cooperate fully with the government's ongoing criminal investigation of the collapse of the energy giant, justice officials said.
Mark Koenig, 49, who once served as Enron's executive vice president, pleaded guilty to participating with Enron senior management, including Kenneth Lay, Jeffrey Skilling and Richard Causey, in a scheme to misrepresent Enron's financial situation and fail to make necessary disclosures, the officials said.
Once the seventh largest company in the United States with stock trading as high as 80 dollars a share, the Houston, Texas-based Enron filed for bankruptcy protection in December 2001, and its stock became virtually worthless, hurting countless investors, including company employees, whose pension fund held company shares.
"Today's guilty plea reinforces the important message that corporate leaders will be held accountable for misleading investors," Assistant US Attorney General Christopher Wray said in a statement. "We will continue our ongoing efforts to fight corporate corruption."
As a result of his plea, Koenig faces the maximum sentence of 10 years in prison and a fine of one million dollars at his sentencing, which will be scheduled by the court at a later date.
Thirty-two people have been charged so far in connection with the Enron scandal, including 23 former company executives.
According to the Justice Department, 14 defendants have so far been convicted.